Rise and Shine: Everything you need to know before the ASX opens
Finally, after years of training, Old Rob managed a night toot so brutal, his soul left his body in disgust. Pic via Getty Images.
A happy Wednesday morning to you all, and welcome to the 2nd of August, on a day when many Australians will be breathing a sigh of relief thanks to the RBA board’s decision to give some small measure of budgetary wiggle room by keeping the cash rate on hold.
It’s not all fantastic news, though, because Phillip Lowe’s already making noises about at least one more hike in the coming months.
“Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon the data and the evolving assessment of risks,” Lowe said yesterday.
“In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in household spending, and the outlook for inflation and the labour market.”
For what it’s worth, Lowe reckons the board kept rates on hold to give it more time to think about the near-ceaseless parade of rate hikes inflicted on local borrowers since May 2022, which left the cash rate at 4.1%.
As always, there’s plenty of info to sink your teeth into pre-market, including Earlybird Eddy’s round up of which stocks did best in July, and Nadine McGrath’s look at a a return to the golden age of mininging shiny stuff in Victoria.
Elsewhere, Josh Chiat has been slowly digesting fresh data from the International Energy Agency, which reckons that all of the work being done by European countries to phase out coal is likely to be completely undone by a predicted 5% jump in demand, because of India and China.
To get your day started off right, here’s the data and digits and other fine things you should probably get your head around before things kick off at 10:00am.
COMMODITY/FOREX/CRYPTO MARKET PRICES
Gold: $US1943.66 (-1.05%)
Silver: $US24.30 (-1.90%)
Nickel (3mth): $US22,235/t (-0.26%)
Copper (3mth): $US8,636/t (-2.31%)
Oil (WTI): $US81.37 (-0.53%)
Oil (Brent): $US85.78 (+0.22%)
Iron 62pc Fe: $US108.32/t (-3.68%)
AUD/USD: 0.6618 (+0.1%)
Bitcoin: $US29,194 (-0.10%)
YESTERDAY’S ASX SMALL CAP LEADERS
Here are the best performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| VMM | Viridismining | 0.46 | 84% | 3,670,367 | $7,802,250 |
| ECG | Ecargo Hldg | 0.03 | 71% | 373,281 | $10,766,875 |
| GFN | Gefen Int | 0.006 | 50% | 517,899 | $513,119 |
| MTL | Mantle Minerals Ltd | 0.002 | 33% | 1,075,000 | $9,221,169 |
| CTO | Citigold Corp Ltd | 0.005 | 25% | 109,814 | $11,494,636 |
| DCX | Discovex Res Ltd | 0.0025 | 25% | 33,333 | $6,605,136 |
| W2V | Way2Vatltd | 0.016 | 23% | 9,264,324 | $8,162,346 |
| OXT | Orexploretechnologie | 0.05 | 22% | 70,061 | $4,250,232 |
| IMR | Imricor Med Sys | 0.58 | 21% | 455,816 | $74,271,771 |
| BBN | Baby Bunting Grp Ltd | 2 | 20% | 2,615,182 | $224,619,304 |
| KGD | Kula Gold Limited | 0.018 | 20% | 173,421 | $5,598,179 |
| MXC | Mgc Pharmaceuticals | 0.003 | 20% | 4,151,244 | $9,730,899 |
| PUA | Peak Minerals Ltd | 0.003 | 20% | 358,722 | $2,603,442 |
| KZA | Kazia Therapeutics | 0.155 | 19% | 41,186 | $30,723,469 |
| HMY | Harmoney Corp Ltd | 0.445 | 19% | 303,564 | $38,083,345 |
| OLL | Openlearning | 0.035 | 17% | 160,119 | $8,036,072 |
| AJL | AJ Lucas Group | 0.014 | 17% | 4,796,607 | $16,508,756 |
| ATH | Alterity Therap Ltd | 0.007 | 17% | 85,609 | $14,639,386 |
| OAU | Ora Gold Limited | 0.007 | 17% | 1,385,285 | $26,621,551 |
| EQX | Equatorial Res Ltd | 0.18 | 16% | 254,884 | $20,296,530 |
| BNZ | Benzmining | 0.405 | 16% | 252,306 | $38,473,741 |
| MXR | Maximus Resources | 0.038 | 15% | 554,354 | $10,528,840 |
| NWC | New World Resources | 0.038 | 15% | 10,697,488 | $69,481,237 |
| GRE | Greentechmetals | 0.345 | 15% | 1,345,096 | $16,978,667 |
| CCX | City Chic Collective | 0.51 | 15% | 1,204,069 | $103,204,438 |
Yesterday’s Small Caps standouts were:
Viridis Mining and Minerals (ASX:VMM): We told you about this one in Top Resources 4, so we suggest you head there for the info in brief. But even more briefly…
Viridis started well, and ended well yesterday, registering all time highs after announcing the acquisition a significant ionic clay (IAC) rare earths deposit.
Imricor Medical Systems (ASX:IMR): The health-tech stock (focused on MRI-compatible devices to, for example, aid cardiac-ablation procedures) was up on a medical ethics committee approval to trial VISABL-VT, a cardiac arrest study. More here, from Eddy.
Baby Bunting (ASX:BBN): Up on news that the company’s unaudited pro forma NPAT result is towards the upper end of the FY23 guidance provided on 6 June 2023, of $13.5 million to $15.0 million. See Gregor’s Lunch Wrap for more.
YESTERDAY’S ASX SMALL CAP LAGGARDS
Here are the worst performing ASX small cap stocks:
Swipe or scroll to reveal full table. Click headings to sort:
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CLE | Cyclone Metals | 0.001 | -50% | 4,971,108 | $20,529,010 |
| ABPDA | Abacus Property Grp. | 1.375 | -48% | 648,372 | $2,377,129,304 |
| NYR | Nyrada Inc. | 0.033 | -34% | 472,770 | $7,800,435 |
| ACS | Accent Resources NL | 0.008 | -27% | 46,796 | $5,204,400 |
| ID8 | Identitii Limited | 0.017 | -26% | 8,680,918 | $4,894,365 |
| MTH | Mithril Resources | 0.0015 | -25% | 153,005 | $6,737,609 |
| PIL | Peppermint Inv Ltd | 0.006 | -25% | 3,155,690 | $16,302,855 |
| SCL | Schrole Group Ltd | 0.225 | -25% | 1,297 | $10,700,276 |
| STA | Strandline Res Ltd | 0.17 | -23% | 17,896,309 | $275,635,506 |
| MOB | Mobilicom Ltd | 0.012 | -20% | 1,946,145 | $19,900,150 |
| JTL | Jayex Technology Ltd | 0.008 | -20% | 384,177 | $2,812,785 |
| NWM | Norwest Minerals | 0.042 | -19% | 2,820,044 | $14,436,995 |
| SKF | Skyfii Ltd | 0.047 | -19% | 626,887 | $24,341,913 |
| TPD | Talon Energy Ltd | 0.155 | -18% | 26,225,460 | $119,215,100 |
| AAP | Australian Agri Ltd | 0.014 | -18% | 169,574 | $5,186,691 |
| NNG | Nexion Group | 0.014 | -18% | 100,005 | $3,439,234 |
| SVG | Savannah Goldfields | 0.075 | -18% | 226,494 | $17,822,208 |
| R3D | R3D Resources Ltd | 0.043 | -17% | 472,844 | $7,573,882 |
| DTZ | Dotz Nano Ltd | 0.2 | -17% | 240,190 | $111,893,428 |
| BNO | Bionomics Limited | 0.01 | -17% | 8,518,704 | $17,624,825 |
| EEL | Enrg Elements Ltd | 0.005 | -17% | 4,646,582 | $6,055,405 |
| EFE | Eastern Resources | 0.01 | -17% | 819,054 | $14,903,358 |
| NES | Nelson Resources. | 0.005 | -17% | 1,100,004 | $3,681,566 |
| PRX | Prodigy Gold NL | 0.005 | -17% | 142,180 | $10,506,647 |
| EOF | Ecofibre Limited | 0.18 | -16% | 557,500 | $75,081,128 |
TRADING HALTS
State Gas (ASX:GAS) – Capital raising.
BOD Science (ASX:BOD) – Capital raising.
Cooper Metals (ASX:CPM) – Capital raising.
Future Battery Minerals (ASX:FBM) – Pending an announcement regarding exploration results.
Rex Minerals (ASX:RXM) – Capital raising.
Genmin (ASX:GEN) – An announcement is coming relating to the approval of an environmental permit for the company’s 100% owned Baniaka iron ore project in Gabon.
Pan Asia Metals (ASX:PAM) – A placement equity raise is in the works.
Aeris Environmental (ASX:AEI) – Some info is pending regarding debt financing and an operational update.
Codan (ASX:CDA) – Pending a material announcement regarding a proposed acquisition, which is awaiting a final regulatory approval in the UK.
Besra Gold (ASX:BEZ) – The goldie has some board changes it’s planning on announcing to the market.
WA Kaolin (ASX:WAK) – Pending an announcement regarding a significant corporate transaction with the company’s offtake partner.
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